Ube’s Profits Rise

3:15 AM MDT | May 10, 2012 | Deepti Ramesh

Ube Industries reported a 33% increase in net profits for the fiscal year ended March 31, 2012, compared with the previous fiscal year, to ¥22.9 billion ($288 million). Sales increased 3.6%, to ¥638.6 billion. Ube’s chemicals and plastics segment reported a 12.9% rise in full-year sales, to ¥231 billion and operating profits for the segment increased 14.5%, to ¥22.9 billion. The market for caprolactam was weak in early fall due to the downturn in the economy, but margins improved substantially during the fiscal year, compared with the...